DKB Overdraft Facility: Euros 1000 immediately, later more!

14.2.2015

If you decide to open the current account of the DKB, you will probably receive Euros 500 of Immediate Overdraft Facility(Sofort-Dispo) on the Visa credit card and another Euros 500 and on the current account.

That adds up to an initial credit line of Euros 1,000!★

★ If you are one of those people with an excellent creditworthiness rating, then the granted credit line will be instantly Euros 2,000 (respectively Euros 1,000 on Visa credit card and on the current account).

How you can increase your overdraft facility to up to Euros 15,000, you will learn in this article.

Please read first:

The credit card balance is automatically cleared monthly with the current account. Until the settlement, no interest will accrue on the credit card account.

However, the overdraft facility on the current account should not be exploited to the maximum, if the transfer of the credit card transactions – which is usually around the 21st of each month – takes place too.

Although the interest rates for the overdraft beyond the agreed overdraft facility line is as favourable as within the line, you should not give the bank this impression as a new customer

Account opening from abroad

If you open the DKB account from Abroad or only few data about your creditworthiness rating is available, it may be that your initial credit line will be only 2 × Euros 100. However, this can be increase exactly as described in this article.

Instructions: How to increase your overdraft facility at the DKB

0. Immediate overdraft facility is set up without proof of salary

As you have probably noticed, the issue of income or salary payment has not been addressed yet. This is also true as the immediate overdraft facility is granted without any evidence.

When opening an account through the WebID procedure (online application + legitimating via webcam), no papers are sent to the bank, thus no salary slips either. One can speak of a paperless account opening.

If you opt for the conventional PostIdent procedure, only the Ident-Coupon is printed. In this case too, no salary or income statements are sent to the bank.

1. Automatic overdraft facility increase at salary payments

In order to increase the overdraft facility line, you only need to transfer your salary payments (or pension payments) to the DKB account.

Salary and pension payments will be marked during the transfer with a code, so that the receiving bank can differ them from other transactions. If you are self-employed, make sure that you provide your salary payments with the payment code “SALA”. Since the SEPA, this is only possible through financial software.

However, and this is the advantage of SEPA, salary and pension payments outside the SEPA-area can be automatically recognized by the bank. This was not possible in an automatically way before the introduction of SEPA. So you can use the DKB account, for example, from Austria as a local bank account.

Salary payments from within the country and from abroad are recognized

After the first salary payment, the overdraft facility is automatically raised – and to twice the amount of the salary. This information was confirmed again by the bank by phone today.

Example

At a salary payment of Euros 5,000, the increased overdraft facility is then Euros 10,000.

2. Request to increase the overdraft facility

As soon as three salary payments were received each month consecutively, then you can submit a request at the DKB to increase the overdraft facility limit to 3 times the monthly income payment.

Extract of the DKB-Online-Banking: Changing the overdraft facility

This menu is situated in online banking in the left navigation bar Service (service) ⇒ Dispo­sitions­kredit ändern (Changing the overdraft facility). Through this online form, the overdraft facility can be increased, but also reduced at your request.

Orange box: up to 3 times the amount of the net income.

Example

At a frequent salary payment of Euros 5,000 – given a normal creditworthiness – a credit limit is granted of up to Euros 15,000.

Euros 15,000 is also the upper limit for an overdraft facility at the DKB. From the request until the approval, usually 2 to 3 days go by, because a manual check is performed.

Euros 15,000 overdraft facility is the maximum

It is not uncommon for someone to request the maximum possible credit line. After all, you never know in life, if a situation occurs in which you need money immediately …

The trick of doubling

The credit line at the DKB is set up respectively on the current account as well as on the Visa credit card. Therefore, the maximum possible is Euro 15,000 on the current account and another Euros 15,000 on the credit card. If there are several credit cards linked to one account, you can split up the Euros 15,000 between the credit cards.

2 × Euros 15,000 is a credit line of Euros 30,000!

However, please remember that the negative credit card balance will be automatically deducted monthly from the current account. The credit card account is set to “zero” and the sum of the credit card transactions will be on the Current account.

So the Euros 30,000 can only be used in the short term.

If you are one of those people, whose accounts often approach the limit of the overdraft facility or even exceed this occasionally, then I recommend the article “How to avoid 99 % of problems with the overdraft facility“. With the mentioned knowledge and the proposed solution strategies, you will be well prepared for a happy banking relationship.

And you should know the following about the immediate overdraft facility!

Before you apply for an account opening at the DKB, you should know that the opening of a bank account may take up to 5 days. Once you get the data for online banking sent, your immediate overdraft facility is set up and ready to be used.

I am a German citizen living in South Africa. I was born with dual citizenship and wish to open a bank account in Germany before arriving there. This being said, I dont have a current address in Germany and I dont have work at the moment. I need find work upon arriving in Germany.

How could I open a bank account with just my German passport? I need a account where I can deposit money into monthly as well as monitor and control my account over the internet

I am an expat from Germany to Netherlands for short period. However, I receive my salary in Netherlands bank account but paying my pension and private health insurance in Germany. After reading loads of post on “deutscheskonto”, I opened the DKB bank. Now I have 100 EUR overdraft limit.

My query is if I transfer my salary from Netherlands bank to DKB will it be recognized as my salary payment? If not how can I proceed further?

Salary payments are automatically recognized due to a key code, which you will not be able to create from a private account. Since the Netherlands are in the same currency area, you can put the salary payment directly onto the DKB account, or use it as a salary account after your return.